PenFed: 2.99% Balance Transfer for Life
PenFed is now offering a 2.99% balance transfer offer for life on its Visa Platinum Rewards card.
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Category: Balance Transfer Offers
Xceed Platinum Credit Card: 0% Balance Transfer for 12 Months, No Fee
El Segundo, California-based Xceed Financial Credit Union is offering a limited-time promotion when you sign up for a new credit card account, waiving balance transfer fees through February 28, 2009. In addition, its card does not have an annual fee and offers an intro 5.9% APR on purchases and 0% APR on balance transfers for 12 months.
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Citi Professional Card: 0% APR on BT for 12 Months Plus 15,000 Thank You Points
Much to my surprise, more no fee balance transfer offers keep popping up. The latest discovery is an offer for the Citi Professional Card. This particular deal provides an intro 0% APR on balance transfers for 12 months with no balance transfer fees. In addition, you’ll earn 15,000 Thank You points after your first purchase.
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ADA World MasterCard: 0% Balance Transfer for 12 Months, No Fees
They’re very rare, but no fee balance transfers still exist. The ADA World MasterCard is a co-branded card from Citi and the American Dental Association that features an intro offer of 0% APR on balance transfers for 12 months with no balance transfer fee. As is the norm with Citi credit cards, you have 12 months from the date of opening your account to perform the initial balance transfer.
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Bank of America Balance Transfer Offers: 0% APR for 15 Months
It’s a rare thing these days when a credit card issuer actually improves one of its balance transfer offers. So, it came as a bit of a surprise to see that Bank of America has just increased the intro period on balance transfers for several of its cards.
Previously, these cards had offered initial balance transfers of 0% for 12 months. Now, each of the following cards boast an excellent intro 0% for 15 months on balance transfers:
- Bank of America® WorldPoints® Platinum Plus® MasterCard® Credit Card
- Bank of America® Accelerated Cash Rewards™ American Express® Card
- Bank of America® Visa Signature® Credit Card with WorldPoints® Rewards: In addition, this card has also added a $25 signup bonus
- Bank of America® Cash Rewards Platinum Plus® MasterCard® Credit Card
Are 0% Balance Transfers Going Away?
A recent SmartMoney article suggests that 0% offers could soon become a thing of the past, due to the impending passage of the Credit Cardholders’ Bill of Rights Act. Credit card issuers claim that should the proposed changes pass, they may not be able to afford to extend these promos anymore. Are these just scare tactics on the part of card issuers or is there substance to the threat?
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Chase Business Rebate Card: 0% BT for 15 Months, 7.99% Fixed Afterwards
For a limited time, Chase is offering an intro 0% on balance transfers for 15 months on its Business Rebate Card with a balance transfer fee of 3% (min of $5 and max of $99). After that, your interest rate goes to a low 7.99% fixed on both purchases and balance transfers.
There is no annual fee, plus the card earns cash back rewards: a 3% rebate at restaurants, gas stations, office supply stores, building supply stores, hardware and home improvement stores; 1% everywhere else.
State Farm Good Neighbor Visa: Intro No Fee 0% APR Balance Transfers
State Farm’s Good Neighbor credit card offers a 0% introductory APR on balance transfers for 9 months, with no balance transfer fees in the first 90 days. After 90 days, balance transfers carry a 3% fee with a $5 min and $75 max. Unfortunately, there are a couple of important caveats: according to FW, 1) you’re unlikely to be approved for the card unless you have a preexisting relationship with State Farm, and 2) State Farm is known to pull from all three credit bureaus.
Advanta Life-of-Balance Platinum Card: 2.99% on Balance Transfers for Life With No BT Fee
The Advanta Life-of-Balance Platinum Card now offers balance transfers at 2.99% for the life of the balance with no balance transfer fees.
With a fixed rate at 2.99% and interest rates being where they are, it doesn’t make sense to park this money in a savings account, but this card could be a good option for transferring higher rate balances.
Update 9/9/08: Advanta no longer offers the 2.99% for life card. Advanta has replaced the 2.99% for life card with the no interest for 90 days credit card.
Fifth Third Bank Issued Personal Credit Cards: 0% on Purchases, Balance Transfers for 6 Months with No Fee
Fifth Third Bank to date has primarily been noteworthy as a credit card issuer only for its no fee 0% 12 month business card. Unfortunately, since it is a regional bank, that offer is only available to residents in Florida, Georgia, Illinois, Michigan, Missouri, North Carolina, Ohio, Pennsylvania, Tennessee and West Virginia. Unless you happen to receive a targeted offer, its personal cards (which can be issued to residents of the aforementioned states, along with Kentucky and Wisconsin) all carry balance transfer fees.
What I have just discovered, however, is that Fifth Third has an extensive number of partnerships with local financial institutions, issuing personal cards branded by these local banks. These cards offer 0% on purchases and balance transfers for 6 months with no fees, are quite numerous and apparently can be issued to residents of any state (though this point needs to be verified). These features make these cards viable AOR options, particularly since they are with a unique issuer.
I’ve compiled a partial list of these cards below, in no particular order:
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